German company aims to become "biggest employer in Serbia"

Germany's Leoni company will open a new production facility in Nis, southern Serbia, on Wednesday, employing 1,125 workers.

Source: Tanjug

General Director Clemens Sachs is quoted as telling Tanjug that the current investments of Leoni in Serbia have reached 75 million euros, and announced new ones.

When a new factory is finished in Kraljevo next year, this fiber optic and cable manufacturer will become the largest employer in Serbia with more than 11,000 workers.

Since Leoni opened its first factory in Prokuplje in 2009, another in 2014 in Malosiste, and last year the first one in Nis, the state budget received 130 million euros in various taxes and fees, Sachs recalled, and added that the future plant in Kraljevo will be their biggest investment in Serbia.

The factory will have 45,000 square meters, with another 20,000 square meters of accompanying content, and it will employ 4,000 workers, he said.

Leoni, headquartered in Nuremberg, Germany, has 93 factories in 31 countries.

Last year the company had revenues of 4.9 billion euros from sales, while in Serbia in 2017 it achieved export worth 145 million euros and was among the ten largest exporters.

Business & Economy

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